I am not a certified analyst. The charts shown and the content in the blog are for educational purpose only and in no way is a buy or sell recommendation. Readers are advised to use discretion.

Tuesday, 15 July 2014

Intraday Trades - 15.07.2014

Positional: Nifty started a relief rally  towards 7600- 7670 NF. My Plan is to Short near MBB positionally for atleast 150 ~ 200 pts. The stronger the rally, better the signals.. Bulls must be trapped..

Intraday: Was Expecting a 100 pt Tuesday today. Yesterday= Ranging Day, Gap Open with 1st Good Opening candle. My Bias was Bullish.
1) Long on break of 1st bar high. Closed when RH formed. Mkt didn't move higher, instead made a range. Avoided first break down as MBB was Up
2) Short on break of RL as BO was in Fluid/ Gap. Tgt was BRN but closed with 30 pts. This move moved price in Lower Ranges, where i started planning taking BOF of Range highs.
3) Short on BOF of BRN + PDH Layer over layer & BB ranging. SL hit & the last move was left due to RL RH (less space)

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5 comments:

  1. Unknown15 July 2014 at 17:19

    Hi Deven
    Hope u are recovering nicely.
    My analysis too says that Nifty can probe 7700 again. In that case it should form the right shoulder. have to see how it behaves from there on.

    Thanks
    TBP

    ReplyDelete
    Replies
    1. Deven Malhotra15 July 2014 at 18:03

      Yeah TBP,

      You rightly said - H&S pattern in an extended move. With this, it has broken old trendline. Now, when it will retest it with a Pullback, i will look forward for an Entry.

      Will keep an eye on direct BO also as if it breaks, Next DP= 8000 the Wall of China with maximum OI.

      Thanks,

      Delete
  2. Unknown15 July 2014 at 18:22

    lets see how it goes.

    Any idea how to trade EUR/USD in India??

    Thanks
    TBP

    ReplyDelete
    Replies
    1. Deven Malhotra15 July 2014 at 18:35

      Bro, No Idea for currencies. But planning & making a strategy to do some stock specific trading & Investing.

      Thanks,
      Deven Malhotra

      Delete
  3. Unknown15 July 2014 at 18:47

    no problems...
    That great about stock specific trading and investing.
    Could u throw some light??

    TBP

    ReplyDelete

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